Sunil Jhamb and Daria Rippingale, the CEOs of WL Payments and Bankingblocks respectively, share their successful collaboration in helping fintechs and payment companies grow their business
Can you tell us an introduction to WL Payments: what service do you provide, and what problem do you solve for who?
Sunil: WL Payments offers a payment gateway platform as a white-label solution to banks, PSPs, acquirers, and large merchants. Companies offering payment services can offer our platform and solutions fully customized to their company’s brand, look, and feel to their customers. We make sure that our partners spend less on keeping up with payments’ technology and regulations while ensuring that their customers have a frictionless payment experience.
We focus on delivering integrations into new channels and markets and bringing the switching costs and time to an absolute minimum. We talk about hours and days where others talk about months.
Of course, our intelligent transactions routing engine, along with other conversion boosting features, help online merchants increase the success rate of their payment transactions. In addition, our automated reconciliation module cuts down their accounting costs significantly. We aim to make sure that the entire payment process is optimized for all parties involved.
There a quite a few PSPs who offer white label solutions; what are you bringing to the table that differentiates you from the others?
For example, our partners and their merchants tell us that our dashboards give them actionable insights they have not seen before. We focus on using data to improve success ratios. AI and BI are not new to us.
Furthermore, we see our clients as true partners. When we sign a contract than we make sure that we, together with our partner, deliver on what was promised. We live by the following rule: we grow only when our partners grow.
WL Payments is a newly developed platform based on the learnings in developing payment gateway solutions over the past few years. We have been focusing on building technology that is easy to adapt and integrate. WL Payments is built to accommodate the ongoing trend of open banking and provide more technological convenience to an increasing number of industry players.
What is your market strategy for the future? Could you elaborate on your roadmap for 2020 and beyond?
Sunil: After an extensive period of testing and boarding new partners and their merchants, we are launching the WL Payments brand this January. The website is up and running, social and other media channels are in place, so we are looking forward in getting the brand out there. For detailed information, please click here.
Looking at 2020, we will mainly be focusing on the white label payments platform and produce more partnerships with different financial players. We will be actively attending industry events and be more proactive in reaching out to potential partners.
We just reached an agreement with three clients at the beginning of the year, and one of them is Bankingblocks, we have the story here.
Looking ahead, we are expanding our services and products into both upstream and downstream directions, such as getting a payments license, integrating with the card schemes and becoming a bigger connector within the fintech ecosystem in the coming years.
Earlier this year, you founded a Dutch fintech startup called Bankingblocks; what does Bankingblocks provide and what caused you to start it?
Daria: We launched Bankingblocks in 2019. It is a modular banking and payments solution serving the fintech and payments industry directly. These services range from acquiring, alternative payments, and banking services (multi-currency IBANs) to foreign exchange, clearing, card issuing, and everything in between. Bankingblocks was established to respond to the industry’s pain points and to provide fintech and payment companies with a partner that has true end-to-end solutions that go beyond agency banking.
Could you elaborate on the partnership you have with WL Payments?
Daria: WL Payments technology, development approach and modular, buildable products are a perfect fit for our modular, wholesale banking and payments offering. We chose WL Payments as our gateway Technology Block due to the unique nature of their platform, cross-services capabilities and similarities in the companies’ visions about the future of payments. Together we will help fintechs and payment companies grow their own business, block by block.
About Sunil Jhamb
Sunil is the Founder and CEO of Newgen Payments, a fintech providing cutting-edge solutions to PSPs, acquirers, financial institutions and ecommerce merchants. He is responsible for running all facets of the business. Sunil has a proven management track record and over 20 years’ experience in international business consulting and sales. Prior to founding Newgen Payments, he was responsible for GlobalCollect’s (currently Ingenico) global sales planning and strategy, where he developed corporate strategies that drove new revenue opportunities.
About WL Payments
About Daria Rippingale
Daria is Chief Executive Officer at Bankingblocks, an European wholesale banking and payment provider, serving global fintech and payment companies. After joining the world of ecommerce in 2004, Daria quickly developed a keen interest in online business and website monetisation. Her experience and expertise inspired her to address the regulatory problems that the fintech industry faces, as well as deliver unified payment and banking solutions to companies all over the world.
About Bankingblocks
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